NFL makes NFT bet in latest deal with Dapper Labs

NFL makes NFT bet in latest deal with Dapper Labs
NFL makes NFT bet in latest deal with Dapper Labs
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Dapper Labs, the company behind the popular NFT platform NBA Top Shot, has signed a deal with the National Football League. As part of the deal, Dapper Labs will create exclusive digital video highlight NFTs (non-fungible tokens) for the NFL and NFL Players Association. The NFTs are comparable to virtual sports cards, but instead of a picture of a player with statistics on the back, you get a video highlight of a play like a Christian McCaffrey juke or a Patrick Mahomes touchdown pass.

“We are thrilled to partner with Dapper Labs in its launch of NFL digital video collectibles,” Senior Vice President of Consumer Products at the NFL Joe Ruggiero, said in a statement. “We believe blockchain technology has great potential to enhance the NFL fan experience in the future and we are excited to have Dapper Labs as one of our first collaborators in exploring this emerging space.” See also: Crypto-trading hamster Mr. Goxx has outperformed the S&P 500 since June Dapper Labs uses blockchain technology, which are databases of information linked together that can be used to record ownership or transactions of a product. Its ledger prevents a lone user from gaining control of the network. Blockchain is used with cryptocurrencies like bitcoin
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Among the NFT’s that will become available when the platform launches will be recent NFL highlights in addition to historically significant NFL plays. “From the Hail Murray to the Minneapolis Miracle, magic happens in NFL stadiums. As a league that continually raises the bar, we are proud that the NFL and NFLPA have chosen Dapper Labs to deliver for NFL fans worldwide the Moments they’ve been waiting for. We can’t wait to give the more than 300 million NFL fans the opportunity to own the game that matters to them and engage with the sport in a whole new way,” CEO of Dapper Labs Roham Gharegozlou said in a statement. Dapper Labs’s NFT marketplace NBA Top Shot has done over $722 million in transactions since its inception in October 2020, according to token monitoring site CryptoSlam, and the NFL could outpace those numbers as football remains the most popular sport in the United States. Here is an example of an NBA Top Shot NFT.

See also: ‘Young teens shouldn’t be on social media,’ former Facebook Security chief says An NFT is a verifiable digital asset vouchsafed by blockchain technology. NFTs are not exchangeable like currencies — as each is unique and can’t be replicated.

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